Canadian Dollar Rockets to 7-Month High: What’s Fueling the Surge?

From Interchange Financial

The Canadian dollar has been quietly gathering momentum—and on Friday, it launched to a seven-month high against the US dollar. While it has since pulled back slightly, the Loonie’s upward trajectory remains firmly intact, propelled by a mix of resilient domestic data and global market dynamics.

The initial boost came from March’s retail sales report, which showed a 0.8% increase—topping expectations. The data highlighted the surprising strength of Canadian consumer demand, a key signal of economic health at a time when global growth concerns linger.